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From The Collaborative International Dictionary of English v.0.48:
Oleaceous \O`le*a"ceous\, a. [L. ol['e]aceus of the olive tree.] (Bot.) Of, pertaining to, or resembling, a natural family of plants (Oleaceae), mostly trees and shrubs, of which the olive is the type. It includes also the ash, the lilac, the true jasmine, and fringe tree. [1913 Webster]